Croft Named Chief Investment Officer

Thomas D. Croft has been named the first Chief Investment Officer of the University of Cincinnati, assuming all management responsibilities for the endowment of the University. The endowment currently has a market value of more than $1 billion and provides annual income of over $45 million to benefit the quality of the academic programs of the University.

Croft is an alumnus of the University of Cincinnati, where he received his master's in Business Administration in 1971. He holds an undergraduate degree in finance from the Ohio State University, and he is a Chartered Financial Analyst. Croft has just completed a distinguished 32-year career at DuPont Capital Management in Wilmington, Delaware, where he rose to the position of managing director and Chief Investment Officer, Fixed Income. In addition to fixed income, he has extensive experience in equity and private capital markets investments. Croft was a member of DuPont Capital Management's Investment Committee and chair of its Business Committee. DuPont Capital Management has more than $25 billion in assets under management, including the DuPont Company's retirement plans worldwide, and a growing external business managing corporate and public pension and other funds.

"Tom Croft brings a wealth of investment experience to this position," said Dale McGirr, UC senior vice president for planning, finance and community development. "He was chosen out of a strong pool of candidates from across the nation. I want to thank the many trustees of both the University of Cincinnati and the UC Foundation who assisted in the interview process. We have so many trustees who have significant careers in the financial sector, including at the global scale, that it was possible to use all that talent to really test these candidates' investment skills and philosophy."

"I'm coming home," Mr. Croft said. "This is a perfect opportunity to return to Cincinnati, where I met my wife Mary, to return to my alma mater, and to accept a very important position where I can make a difference for a great university. The UC|21 Academic Strategic Plan is very exciting, and I look forward to contributing to its success."

"I am just delighted with this very strong appointment," UC President Nancy Zimpher said. "It is another example of building the kind of senior leadership at the University of Cincinnati we need to enhance our future as a premier national university."

Mr. Croft will begin his duties on July 5, 2005.